Alphabet Inc. (NASDAQ:GOOGL) Position Trimmed by Kelleher Financial Advisors

Kelleher Financial Advisors trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,965 shares of the information services provider’s stock after selling 1,932 shares during the quarter. Alphabet accounts for about 1.3% of Kelleher Financial Advisors’ portfolio, making the stock its 14th biggest holding. Kelleher Financial Advisors’ holdings in Alphabet were worth $2,613,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Live Oak Investment Partners purchased a new stake in Alphabet during the fourth quarter valued at about $26,000. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 136.7% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 164 shares during the period. VitalStone Financial LLC increased its holdings in shares of Alphabet by 1,900.0% in the 2nd quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 266 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in shares of Alphabet in the 3rd quarter valued at about $38,000. 35.08% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.0 %

Shares of GOOGL stock opened at $145.54 on Thursday. Alphabet Inc. has a one year low of $88.57 and a one year high of $153.78. The stock has a market cap of $1.82 trillion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a fifty day moving average price of $140.11 and a 200 day moving average price of $135.36.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same period last year, the company posted $1.05 earnings per share. Analysts predict that Alphabet Inc. will post 6.76 earnings per share for the current year.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the sale, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the sale, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 28,281 shares of Alphabet stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $141.40, for a total value of $3,998,933.40. Following the completion of the sale, the insider now owns 25,002 shares of the company’s stock, valued at $3,535,282.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,674 shares of company stock worth $16,162,276. 0.88% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOOGL. Tigress Financial upped their target price on Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 21st. Wolfe Research upped their target price on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Citigroup upped their target price on Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Mizuho upped their target price on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Piper Sandler increased their price objective on Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, October 25th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.65.

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About Alphabet

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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